Banks have a right to transmit customer information to the credit bureau only with his consent, and it is only the information about amounts of loans, their repayment and payment of interests.
Credit bureau, in turn, draws up an annual credit report on the basis of information about all loans received and repaid by the borrower. This document contains:
- Surname, first name, passport details of the borrower;
- Home address of the place of permanent residence (for individuals);
- Information about received loans, credit limits and history of payment of interests.
Any information about property, work, state of health, marital status is prohibited to include in a credit report. In addition, the credit bureaus can provide a credit report only to banks and other lenders – if a citizen gives a written consent.
Of course, a person can get a credit report: once a year – free of charge, if the need arises more often – he will have to pay. Law-abiding people have nothing to fear.
Borrowers can be divided into several groups:
1. Borrowers with a good credit report.
It is not necessarily rich people. It is those who have already purchased on credit the household appliances, furniture, used inappropriate credit product, having paid on time, without unreasonable delays and scandals. The bankers groom and cherish such clients, and when obtaining a large loan to buy a car and a mortgage he can count on preferential terms.
2. Borrowers with a “zero” credit report – those who have never taken credits. It may be law-abiding, wealthy people who do not really trust banks and prefer to borrow money at relatives and friends. Banks are interested in these clients and are willing to give them large loans. But newcomers cannot count on benefits.
3. Inveterate borrowers. This is honest citizens who prefer to buy on credit practically everything that they need for life. They are always ready to act as guarantors for the loan of relatives, friends and acquaintances.
4. Citizens with a negative credit report.
There are no many real fraudsters among them. It is rather “those who overestimated their financial capabilities, or disorderly comrades, allowing systematic delays. People who violated systematically financial discipline may be faced with serious problems in obtaining the next loan, or, at least, lose all opportunities to receive benefits.
Do you still remember those good times when everybody could take a credit if one needed funds? And just imagine the situation of those who have to carry that burden nowadays when the economy is facing tough times. And for those people having credits the matter of credit report monitoring is as urgent now as never before. It is not only about loan control, this also helps save money, time, and nerves and be fast in solving loan related problems. Those who are searching for a place where to find out about credit reports, are welcomed to visit this credit monitoring site – there is much information about loan monitoring and how to order that service.
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